Anthony’s On the River Site Eyed for Development
YOUNGSTOWN, Ohio – Two Bridges LLC is purchasing the property at 15 Oak Hill Ave. with a vision for the space that could change the skyline of downtown.
Among the ideas discussed for the mixed-use space are fine dining restaurants, offices, townhouses, a residential high-rise building and walking paths with access to the Mahoning River for recreation.
“It’s another example of what’s going on with the renaissance of downtown Youngstown and not only for businesses but the consumers and people in the community,” says Pat Kerrigan, executive director of the Oak Hill Collaborative and spokesman for Two Bridges, a consortium of local, regional and national investors. “This is continuing to grow and develop and it’s going to be a very exciting place to live and to have fun.”
The sale price wasn’t disclosed as of Thursday. The Mahoning County Auditor’s website lists the most recent tax appraisal at $183,710 and, as of this posting, the site does not reflect that the transaction has closed.
Two Bridges LLC was incorporated Nov. 8 by Ronald Eiselstein. No additional information is available on the document filed with the Ohio secretary of state.
The property between the Mahoning Avenue and Marshall Street bridges, which Two Bridges took its name from, consists of a 10,000-square foot building and 800 feet of land on the Mahoning River that will be developed.
The building was constructed in 1910 by the St. Vincent de Paul Society and was converted into the Anthony’s On the River restaurant in 1997, records show.
“It’s a tremendous location especially with the development going on downtown,” Kerrigan says. “There’s nothing on this side of the river, except for the B&O. My interest is to develop the neighborhood along the Oak Hill corridor, so this is the perfect spot for us.”
Pictured: Former Anthony’s On the River restaurant at 15 Oak Hill Ave.
The building has been vacant for five or six years, Kerrigan estimates, and Two Bridges is looking to bring a fine dining restaurant into the first floor of the building and have the second floor rented for office space.
Renovations have begun on the building, which needs some roof repairs and mold removed inside, but the structure itself is in good shape, according to Kerrigan.
There is no expected completion date for the project, but Kerrigan hopes that a restaurant on the first floor of the building will open by spring 2020. After that he believes the other developments on the waterfront will follow.
The bigger picture of the project is the development that could happen on the waterfront property, say Michael Stevens, owner of EvenBay Real Estate, who brokered the sale to Two Bridges.
“It could possibly consist of development of waterfront that could change the landscape of downtown Youngstown,” Stevens says. “Our next step is reaching out to community leaders.”
Stevens would like residents and leaders in the community to voice their opinion on what they want to see the property used for. Two Bridges has reached out to local stakeholders, nonprofits, religious groups, Youngstown State University, local businesses and the community at large for collaboration in promoting the continuing renaissance of Youngstown and the Mahoning River waterfront.
“Everyone sharing their thoughts on what they think would be most successful is the key to this success,” Stevens says. “That’s our goal and that’s our focus and that’s what we want to accomplish.”
Pictured: Michael Stevens, owner of EvenBay Real Estate, and Patrick Kerrigan, executive director of the Oak Hill Collaborative and spokesman for Two Bridges, stand in front of the former Anthony’s On the River restaurant.
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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